Allianz Asset Management GmbH Grows Stock Holdings in Pebblebrook Hotel Trust $PEB

Allianz Asset Management GmbH grew its position in Pebblebrook Hotel Trust (NYSE:PEB) by 108.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 707,913 shares of the real estate investment trust’s stock after buying an additional 368,681 shares during the period. Allianz Asset Management GmbH’s holdings in Pebblebrook Hotel Trust were worth $8,063,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in Pebblebrook Hotel Trust by 115.2% in the second quarter. PNC Financial Services Group Inc. now owns 4,683 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,507 shares in the last quarter. AdvisorShares Investments LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 52.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 7,621 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 2,621 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Pebblebrook Hotel Trust in the 2nd quarter worth $116,000. Diametric Capital LP purchased a new position in Pebblebrook Hotel Trust during the 2nd quarter worth $164,000. Finally, Creative Planning acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter valued at about $176,000.

Pebblebrook Hotel Trust Stock Up 0.3%

PEB stock opened at $12.42 on Tuesday. The company has a market capitalization of $1.41 billion, a P/E ratio of -10.44 and a beta of 1.54. Pebblebrook Hotel Trust has a 12 month low of $7.41 and a 12 month high of $12.95. The firm’s fifty day simple moving average is $11.64 and its 200-day simple moving average is $11.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.13 and a quick ratio of 1.13.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -3.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their price target on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Pebblebrook Hotel Trust in a research report on Monday, December 29th. Compass Point lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and cut their price target for the company from $12.00 to $11.50 in a research note on Monday, November 10th. Zacks Research downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, Barclays initiated coverage on shares of Pebblebrook Hotel Trust in a report on Tuesday, January 6th. They set an “underweight” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $12.08.

Pebblebrook Hotel Trust Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.